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Real Estate - Commercial

With Relocation, Insurance Firm Expands In Wilmington

By Cece Nunn, posted Apr 6, 2017
Burns & Wilcox announced this week the relocation and expansion of its Wilmington office to 1001 Military Cutoff Road. (File photo)
The local office of a national insurance firm has moved to a different office location on Military Cutoff Road.
 
Burns & Wilcox, an H.W. Kaufman Financial Group Company, announced this week the relocation and expansion of its Wilmington office to 1001 Military Cutoff Road, Suite 350.
 
“The strategic move doubles the firm’s local operations — driving further growth of the team and greater support for insurance broker and agent clients,” according to a news release. “Burns & Wilcox has successfully operated in North Carolina for nearly 30 years, with additional offices in Charlotte and Morehead City.”
 
Previously, the firm has had a location nearby at 1051 Military Cutoff Road. The new office is more than 4,000 square feet.
 
“Burns & Wilcox has had a steadfast, prosperous history in North Carolina. The Wilmington community is an important location, integral to our leadership position in the North Carolina insurance marketplace,” said Alan Jay Kaufman, chairman, president and CEO of H.W. Kaufman Financial Group and Burns & Wilcox, in the release. “Our long-term dedication to the area has allowed us to attract top talent and expertise in this critical coastal market, and we look forward to advancing our footprint locally.”
 
Burns & Wilcox plans to add insurance professionals and capabilities this year, the release said.
 
The Wilmington office specializes in hard-to-place insurance coverage, including coastal risks, flood, commercial liability, commercial property, professional liability, environmental, commercial transportation and personal insurance, including high-value homes and condominiums, according to the release.
 
“Our growth and success in Wilmington is underscored by the hard work of our team in placing difficult coastal risks for our clients, such as flood,” said Kasey Vaughn, corporate vice president and managing director of Burns & Wilcox. “Our newly constructed office space will give Burns & Wilcox room to expand and attract new recruits  . . .”
 
According to the release, the new location for Burns & Wilcox will be built “as a bright and inviting open concept to provide more collaborative workspaces, with strong use of natural light.” 
 
Burns & Wilcox, headquartered in Detroit, has more than 50 offices across the United States and Canada and employs more than 1,700 professionals.
 
Kaufman Real Estate Management, the global real estate arm for Kaufman Family Companies, executed the lease and handled the construction of the office space, the release stated. 
 
Keith Austin of Maus, Warwick, Matthews & Co. represented the landlord in the lease at to Burns & Wilcox. Austin said Thursday that the remaining space for lease on the third floor is 2,550 square feet.

He said potential new tenants are showing interest in the first floor at 1001 Military Cutoff Road, including space that residential real estate firm Coldwell Banker Sea Coast Advantage will soon vacate.

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